What will be the impact of 现金 投资人 slowing purchases in California? Large 投资者销售 drop 31 percent year-over-year in California. 1.2 million homeowners underwater.
The market in California is starting 至 splinter off into two distinct segments. First, in 低er priced areas the pullback of 投资人 has caused inventory 至 steadily rise. In places like the 内陆帝国 there doesn’t seem 至 be any urgency 至 buy anymore. In less desirable areas of L.A. and OC you have seen homes sit on the market as sellers try 至 ask for delusional pie in the sky prices. This segment of the market is feeling the withdrawal of 投资人. The second segment impacts smaller 主要 markets and prices have reached 新 peaks in some of these areas. Sales are dramatically down but house horny buyers are willing 至 stretch 其 budgets 至 whatever a bank is willing 至 lend them. 投资者在拉 回到这里，仍然有大量购买。趋势非常明显，那就是大投资者在加利福尼亚购买的房屋不多。 Year-over-year large 投资人 have dropped 其 buying activity by 31 percent。考虑到已经发生了非常薄的销售量，这是一个大问题。当您在许多市场上运行数字时，您会看到很多领域 各种指标的定价过高。那么，随着投资者继续回调，市场将会发生什么？
First, there has never been a year where 30 percent or more of all sales went 至 投资人. That is, until 2009. Since that point, for half a decade over 30 percent of all sales in the state of California have gone 至 the “all 现金” crowd. Wall Street was the first house horny buyer leveraging cheap rates in a lustful attempt 至 chase yield. This is how you have the odd mix of a falling homeownership rate in conjunction with higher home prices.
This is a big deal since 投资人 have been a primary buying group since 2008. Also it should be noted that the above data will only look at MLS sales and not off the book auction sales which are a large part of the big 钱 crowd. Some thought that once 投资人 pulled back that regular buyers would step into the fold with massive incomes 至 purchase these 高价棚屋。那根本没有发生。该州各个市场的库存都在增加。人们继续购买，但到2007年价格明显疯狂时，人们的购买量一直很高。由于精神错乱，您还会看到更多房屋的价格降低，这在2013年本身就是一个奇怪的现象。事实证明，价格确实很重要，而投资者正在按数字计算，而不是基于心不在man的口头禅和“买东西总是很有意义”的言论来购买房产。
Or we can ask the hundreds of thousands in the state that lost 其 止赎房屋 if running the numbers makes any sense. It absolutely does. So if that is the case, does the rise in inventory mean anything? Does the major drop in sales volume mean anything? Investors are voicing 其 opinions and 好 deals are rare 至 find like a diamond in the rough.
Inventory in the L.A. County area is up 15 percent year-over-year. In the spring of 2013 you had house lusting zombies loading up in minivans going 至 open houses as if 他们 were following a rock star. 您 had families bringing in multi-generations 至 beg sellers 至 give them a taste of that sweet World War II built shack. The only thing missing was a t-shirt saying “take my 钱 please!”
Those thinking that we will somehow go into a 稳定 mode fail 至 look at history:
The one 新 variable that we have this time is the big 钱 buying from Wall Street courtesy of 低 rates. The Fed is already telegraphing higher interest rates and big 钱 is finding better homes for 其 钱 instead of single family homes for rent. One thing is certain and that is there is never a dull moment in California housing.